ASIC

Financial planning

Will reference-checking be the big cost in adviser recruitment?

As the major licensees compete to attract advice businesses and individual advisers, the Australian Securities and Investments Commission’s new approach to reference-chec...

Financial planning

Dover and McMaster handed penalty

Dover Financial Advisers have been ordered to pay a $1.2 million penalty for engaging in false or misleading conduct, while Terry McMaster will also be required to pay $2...

Financial planning

Planning and accounting groups unite against ASIC levy rise

Five planning and accounting groups have united to press the Government to override the Australian Securities and Investments Commission on its proposed levy increases ci...

Financial planning

Ex-adviser charged for fabricating wholesale certificates

Ezzat-Daniel Nesseim has been charged with 16 offences and the corporate regulator alleged that he gave false answers and information under oath....

Financial planning

Another 30 advisers leave the industry this week

Although a quick look at the ASIC’s Financial Adviser Register shows a departure of another 33 advisers from the industry this week, it is equally important to understand...

Policy & Regulation

Should the industry be paying for ASIC’s policy advice to Govt?

The Australian Securities and Investments Commission is recouping millions of dollars from the industry to pay for the provision of policy advice to Government. Should th...

Superannuation

Civil proceedings against Statewide Super on false or misleading charges

The corporate regulator has commenced proceedings in the Federal Court against Statewide Superannuation for its representations on insurance cover. ...

Financial planning

Advisers told to charge what their advice is really worth

Instead of allowing a race to the bottom in terms of the cost of providing advice, financial advisers should be accurately assessing what their advice is worth and chargi...

Policy & Regulation

ASIC urged to use ATO and super to reunite unclaimed remediation monies

Superannuation funds would rather see unclaimed remediation money directed away from charities and consumer groups and towards client’s superannuation accounts via the AT...

Policy & Regulation

ASIC warned on unnecessarily delivering regulatory complexity

A senior Federal Opposition frontbencher has fired a shot over the bows of the Australian Securities and Investments Commission warning that well-intentioned legislation ...

Financial planning

No one yet prosecuted for calling themselves 'financial adviser'

The Australian Securities and Investments Commission has prosecuted many people for operating without an Australian Financial Services License but it appears no one has b...

Financial planning

ASIC pursues NAB in Federal Court over fees

The Australian Securities and Investments Commission is pursuing National Australia Bank in the Federal Court over 195,305 instances of incorrectly charging fees and bein...

Policy & Regulation

ASIC creates legal immunity escape hatch

People who dob-in instances of misconduct will have the opportunity to seek legal immunity under new arrangements being put in place by the Australian Securities and Inve...

Financial planning

ASIC urged to make affordable advice submissions public

Some financial advisers want the Australian Securities and Investments Commission to make the more than 480 submissions received as part of its affordable advice review p...

Superannuation

SMSF advice largely scaled

While the industry is working towards scaled SMSF advice, the Royal Commission and code of ethics has created a confidence issue in the industry, according to BT....